NorthMarq Capital arranges $2.25 million refinance of St. John’s Medical Office in St. Louis, Missouri
ST. LOUIS (June 1, 2015) – NorthMarq Capital’s St. Louis based regional office negotiated the $2.25 million refinance of St. John’s Medical Office, a 21,382 sq.ft. medical office building located at 755 Dunn Road in St. Louis, Missouri. The transaction was structured with a fully amortizing 9.5 year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Mercy represents the property’s major tenant. “Our correspondent life insurance company offered a very competitive non-recourse fixed-rate loan due to the fully amortizing request which matched up with the credit tenant’s lease term."
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